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Thursday, January 14, 2016

Another good day, Week's good - Day Trading: Jan 14, Intraday

Market went gap down, then up and down again. This has been a week of crazy moves - big ones at that. So me made small money out of it.

For today's trades, I had my inhibitions about entering trades 1 and 3 - both the short trades - because the Stop Loss for them was wide. However, given the large bars painted by the market yesterday (that caused me to stay out of the 150 point move up), I had to take my chances. With the current Range Compression Trading method, I would prefer narrower ranges though.

Trade 2 - long trade - was a clear one. That one flew 127 points from my entry. I booked 95 out of those 127 points. That's better than the 75 out of 126 that I booked in yesterday's downmove. Percentage of potential profit booked (Intra-Trade Drawdown) will remain a concern with the current mechanical Stop Loss trailing method, but I plan to continue since the going's been good this week. Check out my Trading Stats page - it's a resurrection going on there.